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I am not a crypto expert and I don’t have treasury operations experience in a company that has direct exposure to a developing countries issues. I do have expe

I am not a crypto expert and I don’t have treasury operations experience in a company that has direct exposure to a developing countries issues. I do have experience doing treasury ops work though and I will say the 2 biggest things you look for in the currency you do treasury operations in is a) stability and b) access to normal financial rails. Nothing currently beats the usd on either count and that’s the currency of exchange in El Salvador. Because of that there is no incentive for businesses to change their currency of account. And if uptake on the consumer side is low there is no reason at all to accept a new currency. You might as well ask why the Japanese yen hasn’t had significant uptake. It’s the same problem as Bitcoin but at least it’s (relatively) stable and has well paved financial rails. Even the Chinese yuan hasn’t made a dent in currency of account. Why would Bitcoin?

el-salvador 4y ago
> Nothing currently beats the usd on either count and that’s the currency of exchange in El Salvador. Because of that there is no incentive for businesses to change their currency of account. And if uptake on the consumer side is low there is no reason at all to accept a new currency. My treasury experience is limited to what I have in my wallet, but I can say using the USD is definitely one of the advantages of El Salvador and Panama compared to the rest of Latin America. The coins I get as change in a fruit stall in El Salvador, can be used to pay a subway ticket vending machine in the U.S. The banknotes I get from an ATM in a small town in El Salvador, can be exchanged for local currency in another continent. Just some of the advantages of the local currency being the most traded currency in the world.